Case filing & court posture: Marelli Automotive Lighting USA LLC, a U.S. subsidiary within the global Marelli automotive supplier group, filed for chapter 11 protection on June 11, 2025 in the District of Delaware (Case No. 25-11034) before Judge Craig T. Goldblatt. Dkt. 1 The debtor is a global Tier 1 automotive supplier operating in 24 countries with over 46,000 employees, supplying more than 65 OEMs and generating over $10 billion in revenue in 2024. Dkt. 20
Liquidity & financing path: The debtors faced significant liquidity pressure amid a global automotive production downturn, COVID/post-COVID disruptions, cost inflation, weaker EV demand, and a high fixed-cost footprint with approximately $150 million in annual interest expense. Dkt. 20 The debtors obtained DIP financing and cash collateral authority on June 12, 2025 via interim order. Dkt. 109 At filing, the debtors reported approximately $4.9 billion of funded debt, primarily comprised of a Japanese-law Senior Loan Facility ($4.55 billion) and a contractually senior Emergency Loan Facility ($350 million). Dkt. 20
Restructuring posture: The contemplated restructuring is premised on a debt-for-equity exchange, with DIP lenders receiving 100% of reorganized equity, senior loan holders receiving 11% cash recovery, and general unsecured creditors expected to be paid in full. A 45-day go-shop process concluded with no superior proposals.
Current status: The case remains active in restructuring. On February 3, 2026, the Court extended the debtors' exclusive periods to file a chapter 11 plan and solicit acceptances. Dkt. 1639 The debtors continue to operate as debtors-in-possession while negotiating plan terms with stakeholders.
